Accounting - 3rd Edition - ISBN: 9780434986132, 9781483105734


3rd Edition

Made Simple

Authors: Wilfred Hingley
eBook ISBN: 9781483105734
Imprint: Made Simple
Published Date: 23rd January 1989
Page Count: 590
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Accounting: Made Simple, Third Edition covers the basic principles and techniques of accounting, with emphasis on accounting statements, formats, and procedures, as well as their preparation, uses, and interpretation.
The book tackles the common forms of financial statements and the main types of business units that operate to provide goods and services and accounting for governments, charities and individuals, and profit-making enterprise. The text also describes the accounting requirements of business combination; the analysis of income and costs; the fundamentals of cost accounting; and management accounting. Accounting for inflation and standard accounting practices are also considered. The book concludes by presenting published company accounts and exercises and by providing answers to the exercises.
Those having some knowledge of book-keeping or elementary accounting and those having no knowledge at all, but needing an appreciation of accounting as part of business or professional training and courses, will find the book invaluable.

Table of Contents



Part One Financial Accounting and Reporting

1 The Business and Financial Environment

1.1 The Role of Accounting

1.2 The Balance Sheet

1.3 Revenue Accounts

1.4 The Funds Flow Statement

1.5 Value Added Statements

1.6 Concepts and Conventions

1.7 Analysis of Accounts

2 More on Balance Sheet Items

2.1 Fixed Assets: Types of Assets

2.2 Fixed Assets: Methods of Estimating Depreciation Expense

2.3 Current Assets: Stocks and Stock Control

2.4 Current Assets: Debtors and Debtors Control

2.5 Current Assets: Cash and Cash Control

2.6 Liabilities: Short and Long Term

3 Types of Business Organization and Their Accounts

3.1 Double Entry and Basic Records

3.2 The Sole Trader

3.3 Partnerships

3.4 The Limited Company

3.5 Valuation of a Business and Goodwill

Part Two Growth and Failure

4 Expansion

4.1 Amalgamation and Absorption of Two or More Companies

4.2 Holding Companies, Group Accounts and Consolidated Balance Sheets

4.3 Inter-Company Transactions

4.4 Consolidated Profit and Loss Accounts

5 Decline and Failure

5.1 Capital Reduction

5.2 Capital Reconstruction or Reorganization

Part Three Analysis of Income and Costs

6 More on Revenue Account Items

6.1 The Manufacturing Account

6.2 The Trading and Profit and Loss Account

6.3 Departmental Accounts

7 Special Forms of Accounts

7.1 Branch Accounts: Home Branches

7.2 Branch Accounts: Foreign Branches

7.3 Extended Credit, Hire Purchase and Leasing

7.4 Investment Accounts

7.5 Royalty Accounts

8 Taxation

8.1 The Sole Trader

8.2 The Partnership

8.3 Aspects of Company Taxation

8.4 Pay as you Earn (PAYE)

8.5 Value Added Tax (VAT)

8.6 Foreign Taxation

Part Four Management Accounting

9 The Scope of Management Accounting

9.1 Cost Ascertainment: The Elements of Cost

9.2 Cost Ascertainment: Materials

9.3 Cost Ascertainment: Labor

9.4 Overheads: Classification and Collection

9.5 Absorbing Overhead Costs

10 Costing For Various Forms of Enterprise

10.1 Costing Methods: Specific Order Costing

10.2 Costing Methods: Average Costs, Process Costing and Service Industries

11 Cost Control: Costing Techniques

11.1 Costing Techniques: Absorption and Marginal Costing

11.2 Costing Techniques: Break-Even Analysis Cost/Volume Relationships

11.3 Costing Techniques: Budgetary Control - Master and Subsidary Budgets

11.4 Costing Techniques: Budgetary Control - Cash Flow

11.5 Cost Control: Standard Costs and Variance Analysis

11.6 Cost Control: Non-Manufacturing Costs

12 Costs for Decision Making

12.1 Marginal Costs

12.2 Incremental, Differential and Opportunity Costs

12.3 Investment Appraisal: Payback and Return on Capital Employed

12.4 Investment Appraisal: Discounted Cash Flow

12.5 Investment Appraisal: Risk Analysis and Other Factors

Part Five Miscellaneous and Contemporary Issues

13 Accounting For Inflation

13.1 The Impact of Inflation upon a Business

13.2 Adjusting Accounts Based on Historic Cost

13.3 Development of Accounting Standards

13.4 The Present Position Regarding Published Accounts

13.5 Inflation and Management Accounting

14 Standard Accounting Practices

14.1 Statements of Standard Accounting Practice (SSAPs) — History

14.2 Statements of Standard Accounting Practice at Present in Use

14.3 European and International Standards

15 Published Company Accounts

15.1 Transport Development Group PLC Annual Report and Accounts 1986

15.2 Communicating to Employees

Part Six Exercises

Exercises: First Series

Exercises: Second Series

Answers to Exercises: First Series

Answers to Exercises: Second Series

Appendix 1 Tables of Discounted Values of £1

Appendix 2 Accounting and Allied Organizations



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© Made Simple 1989
Made Simple
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About the Author

Wilfred Hingley

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